Trump gave TikTok 75 more days to find a buyer in the U.S. Here’s a rundown of the suitors.
Thanks to a newly signed executive order from the desk of President Donald Trump, the reprieve protecting TikTok‘s U.S. operations has received a 75-day extension. The app’s parent company, ByteDance, now has nearly three more months to find a business partner that can take control of a divested TikTok. In theory, if a deal doesn’t arrive in time, TikTok will become unavailable on U.S. app stores.
Since reclaiming the Oval Office, Trump has been adamant that he will get a deal done to “save TikTok,” but dispatches from the negotiations make the outcome seem cloudier than Trump claims it to be. Amidst broader trade disputes, China has not made clear that it has any intention of letting a U.S.-backed firm control TikTok.
That hardline response hasn’t stopped potential TikTok buyers from lining up at the White House doors in hopes of snagging ownership of the culturally resonant app. The Independent describes the feeding frenzy as a “six-horse race,” but the total number of bids is even higher than that. Here, in no particular order, are the details on some of the most interesting offers:
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Amazon shook up the TikTok race by submitting a late bid for the app just before Trump ordered the latest deal extension. Jeff Bezos certainly has enough cash on hand to pay TikTok’s massive price tag, but there would be concerns about social media monopolies if Amazon controlled TikTok and Twitch in addition to its own powerful affiliate marketing platform.
OnlyFans founder Tim Stokley has joined forces with a crypto firm to target a TikTok acquisition. Can the man who helped build a revolutionary monetization hub for creators find similar answers for TikTok’s current conundrum?
Perplexity‘s TikTok bid is different from the others. The AI company has “a vision for rebuilding TikTok in America,” and that mission would involve an open-source version of the TikTok algorithm. Is a more democratized form of TikTok a potential future for the platform?
Reid Rasner, a Wyoming billionaire, has assembled a “people’s bid” for TikTok that includes a $47.5 billion offer. Numbers-wise, that’s one of the highest proposals, and like the Perplexity bid, Rasner’s take on TikTok would include a more community-oriented spirit.
Blackstone is part of one bid that includes multiple investors. The VC firm already has a foothold in the social media world thanks to its backing of the deep-pocketed company Candle Media.
MrBeast has also seen his name come up among the TikTok suitors, though the bid he’s a part of looks like a long shot at this point.
Oracle is the last name to consider. The tech company that has long been floated as a potential TikTok steward seems to be gaining momentum in the ongoing negotiations. With Andreessen Horowitz reportedly looking to enter the Oracle bid, it’s time to ask an important question: Are we just going to end up with Project Texas again? That was the name of the original plan to safeguard U.S. TikTok data, and even after multiple years of negotiations, we seem to be headed back in the direction of that initial proposal. It’s beginning to feel like this whole saga is just going in circles, and I for one can’t wait until it is finally resolved.